Oil soared above $135 a barrel after the White House said it was considering an embargo on Russian supplies…reports Asian Lite News
Russian government approved a list of countries and territories that are ‘unfriendly’ with Russia and has imposed sanctions against the country after the start of a special military operation of the Russian Armed Forces in Ukraine
The list includes the United States and Canada, the EU states, the UK (including Jersey, Anguilla, the British Virgin Islands, Gibraltar), Ukraine, Montenegro, Switzerland, Albania, Andorra, Iceland, Liechtenstein, Monaco, Norway, San Marino, North Macedonia, and also Japan, South Korea, Australia, Micronesia, New Zealand, Singapore, and Taiwan, reported TASS News Agency.
The government noted that according to this decree, Russian citizens and companies, the state itself, its regions and municipalities that have foreign exchange obligations to foreign creditors from the list of unfriendly countries will be able to pay them in rubles. The new temporary procedure applies to payments exceeding 10 million rubles per month (or a similar amount in foreign currency).
On Monday, a steady stream of businesses, including major accounting and media firms, announced they would stop doing business with Ukraine. Oil soared above $135 a barrel after the White House said it was considering an embargo on Russian supplies.
The list also comes following a presidential decree on 5 March, which allowed the Russian government, companies, and citizens to temporarily pay foreign currency debts owed to overseas creditors from “unfriendly countries” in roubles.
To make such payments, the government said debtors should open a special type of rouble account with a Russian bank and transfer into it the rouble equivalent of the foreign currency amount owed according to the central bank’s official exchange rate on the day of payment.
